Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.

Charles Krauthammer, on Fox’s Special Report, tonight, called the offer “an insult.”

Democrats, he says, are asking Republicans for “unconditional surrender,” because there are no cuts – and spending increases – in the current deal. Republicans, says Krauthammer, “ought to simply walk away.”